8 Best & Safest Crypto Debit Cards to Use in 2023
crypto basics
The world of finance completely changed with the introduction of cryptocurrencies in 2009. However, they still represent a conundrum for many users, and their integration into everyday life is an ongoing process. That’s where crypto debit cards come into play as a bridge between the digital and traditional financial worlds.
These cards are much like conventional debit ones and can be just as easy to use. Still, there is a learning curve. Plus, there are many options on the market, each offering different features and levels of reliability and security.
In this article, we’ll delve into the world of crypto debit cards and give you the best options to consider. Let’s get started!
What Is a Crypto Debit Card?
A crypto debit card is an innovative payment method that represents a combination of the traditional banking system and the groundbreaking world of cryptocurrencies. It functions similarly to a conventional debit card, with one major difference: it uses your cryptocurrency assets instead of drawing funds from your bank account.
As cryptocurrencies rose in popularity, they gained more utility. It wasn’t that long ago when Laszlo Hanyecz made history by using 10,000 BTC to buy pizza, thus performing the first cryptocurrency transaction. Nowadays, you can use crypto for various purposes, including buying goods, services, cards, and real estate.
Still, their use is limited compared to fiat money, which is remedied by crypto debit cards. These debit cards were introduced in 2015 when Coinbase launched the world's first Bitcoin debit card in partnership with Shift Payments. When used as a payment method, crypto debit cards convert cryptocurrency into local currency in real time.
That way, the merchants receive payments in the required currency. On the other end, buyers spend their crypto assets without the need for extra steps, such as transferring or selling their crypto coins or tokens.
What Is a Crypto Credit Card?
A crypto credit card is an ordinary credit card that rewards cryptocurrency when it’s used. It’s different from a crypto debit card in that it doesn’t draw from your cryptocurrency balance.
In general, crypto credit cards are issued by traditional banks in collaboration with crypto companies. That way, when you spend money using your credit card, your rewards in relevant cryptocurrencies are deposited into a wallet on a relevant platform or exchange of your choosing.
8 Best Crypto Debit Cards to Use in 2023
We’ve compiled a list of some of the best and most popular crypto debit cards to use in 2023. We looked into various characteristics, such as fees, features, and more, so let’s check it out.
#1. Binance
Binance Card is issued by Binance, which is the world’s biggest and most famous centralized cryptocurrency exchange. Binance Card is a crypto Visa card, which means you can use it wherever Visa cards are accepted.
Additionally, this card is compatible with both Google Pay and Samsung Pay, which makes mobile device integration simple. On top of that, Binance offers up to 8% cashback on eligible purchases. The cashback—in BNB, which is the exchange’s cryptocurrency—gets directly deposited into your account.
Moreover, Binance prides itself on offering the lowest fees in the market. While you may encounter third-party fees, there are no sign-up, annual, ATM withdrawal, or foreign transaction costs within Europe.
On the other hand, Binance doesn’t issue its debit card all the time, so you might need to register interest and wait until it’s approved. Furthermore, the card isn’t available worldwide but only in selected countries, though it’s still one of the best crypto debit cards in Europe.
#2. BlockCard
BlockCard offers both virtual and physical (plastic and metal) versions of their Visa debit card, which are also usable anywhere Visa is accepted. BlockCard Visa cards offer support for 13 different cryptocurrencies, which gives their users plenty of versatility.
When it comes to fees, the BlockCard debit card features no deposit, exchange, or withdrawal fees. There’s also no monthly fee unless you’re spending more than $750 per month at POS terminals, in which case there’s a $5.00 fee.
Not only that, but BlockCard partnered up with Ternio to offer staking rewards to their card users. Depending on the amount of TERN you stake, you can earn anywhere between 1–6% rewards on your spending.
Finally, the BlockCard debit card comes with a user-friendly app that allows you to check your balance, manage your assets, and even participate in the referral program.
#3. Crypto.com
Crypto.com offers five different tiers of Visa cards, each offering an increasing number of features and more cashback rewards. The entry-level Midnight Blue Visa Card offers up to $200 in free ATM withdrawals per month with an aggregated monthly limit of $25,000 and no cashback rewards.
On the other end, there’s the premium Obsidian Visa Card, which offers 5% cashback rewards in CRO. There are additional perks, such as Spotify and Netflix subscriptions, Airbnb reimbursements, and more. However, this option requires $400,000 USD worth of CRO locked up.
Applying for a Crypto.com Visa Card is simple and only requires users to have an account and complete KYC verification. If you want a higher-tier card, you’ll need to purchase and lock up CRO tokens first.
#4. Wirex
Wirex represents a Web3 banking alternative. The company features a wallet, an app, and a debit card that allow you to buy and sell crypto, manage your assets, participate in DeFi, and more.
The Wirex card comes with a rewards program called Cryptoback, where users can earn up to 8% cashback on all purchases. Cryptoback rewards come in the form of Wirex's native token, WXT. By locking up your WXT, you can increase your rewards and gain additional benefits.
Wirex offers virtual and physical cards and supports both crypto and stablecoins. Combined with no annual or foreign exchange fees and no ATM withdrawal fees up to $200 per month, the Wirex card is an enticing option for users who want a global and feature-packed crypto card.
#5. Monolith
Monolith provides you with a DeFi account where you can get a Visa debit card and an Ethereum wallet to pair it up with. With no monthly or card shipping fees, you can have your Monolith crypto debit card free of charge.
Speaking of fees, Monolith is completely transparent and offers a comprehensive table where you can see exactly how much you’re going to spend. It’s important to note that you can get your card in GBP or EUR and that the fees vary between the two.
The Monolith card supports more than 100 ERC-20 tokens, including ETH, USDT, and USDC. Before you can use it to make purchases, you need to top up your card with cryptocurrency. If you’re using Monolith’s native token, TKN, the top-up fee is 0%. Otherwise, there's a community contribution fee of 1% when using any other cryptocurrency.
#6. Coinbase
The Coinbase Card is one of the best crypto debit cards for USA users. It’s a Visa debit card that allows you to earn crypto back with every purchase. You can choose to diversify your payback rewards and earn everything from BTC and ETH to ALGO and DOGE.
You can connect your Coinbase Card with either your bank account or your crypto wallet. That way, you can use it to spend both fiat and crypto. And since you earn crypto back with every purchase, you can spend your fiat and grow your crypto portfolio without ever buying cryptocurrency.
Further benefits of using the Coinbase Card include extensive security features and no fees for spending USD or crypto. However, there are tax implications if you’re using your card to spend cryptocurrency other than USDC. Since you’re selling crypto to convert it to fiat, you’re creating a taxable transaction.
#7. BitPay
BitPay Card is another solid pick for US crypto enthusiasts. Their Mastercard crypto card is available to residents in all 50 states and usable worldwide. BitPay card supports Bitcoin, several major altcoins, such as Ethereum, Polygon, Dogecoin, and Bitcoin Cash, and stablecoins like Binance USD, USD Coin, and Pax Dollar.
To gain full control over your assets and your crypto debit card, you should download the BitPay app. You can use the app to buy and send cryptocurrency, manage your assets, check out reward programs, and more.
On the topic of rewards, the BitPay Card offers automated cashback. You’ll find more than 100,000 merchants participating in their program, and the best place to locate them is through the app.
#8. Uphold
Uphold offers an FCA-regulated crypto Mastercard to UK residents. Any Uphold user from the UK can activate a free virtual card using their mobile wallet. A physical card has a one-time issuance fee of £9.95.
Uphold features integration with Apple Pay and Google Pay for a seamless transaction experience. Their app comes with real-time analytics that help you monitor your spending. Plus, in addition to FCA regulation, there are several security features, such as the instant “Freeze your card” option.
The Uphold Card offers 4% cashback when spending crypto and 2% cashback when spending fiat currencies. Users can earn up to £100 in XRP per month.
Crypto Debit Cards Comparison
Now that we’ve discussed several options, here’s a brief recap with the most important information. In the table below, you’ll find a concise comparison of all the crypto debit cards that we’ve talked about:
How to Pick the Best Crypto Debit Card
Before you pick a crypto debit card, you should consider various factors to ensure your choice suits your needs the best.
#1. Fees
One of the most important aspects of a crypto debit card is its fees. Even a fraction of a percentage difference between two cards can result in significant discrepancies in spending in the long run.
Some of the aspects to consider when looking at a fee structure include transaction fees, monthly and annual charges, conversion and withdrawal fees, and more.
Furthermore, you should keep in mind that there can be hidden and underlying fees. That’s why it’s crucial to do research and carefully read the fine print.
#2. Number of Supported Cryptocurrencies
Support for relevant cryptocurrencies is another important characteristic of solid crypto debit cards. The majority of crypto cards support Bitcoin, and a lot of them support several major altcoins, such as Ethereum.
However, if you hold a lot of niche altcoins and don’t want to trade them for their more popular counterparts, you should check whether you’ll be able to spend them using a debit card.
#3. Ease of Use
A user-friendly web application or mobile interface can help you get the most out of your debit card. It smooths the learning curve and enhances the overall user experience.
On the practical side, it allows you to keep better track of your account balances and expenses, simplifies the use of security features such as PINs and 2FA, and more.
#4. Regional Availability
Regional availability is a crucial consideration when choosing a crypto debit card. Not every crypto debit card is available worldwide, so you should check if a desired card can be issued in your country and used at your preferred merchants.
#5. Reward Incentives
Some cards offer various rewards to their users. For instance, there are cashback rewards that range from 0.5% of the money spent to 8% or more. These add up over time, so it’s important to compare different cards and figure out which one will get you the most. Some other rewards include referral perks, travel points, and welcome bonuses.
How to Get a Crypto Debit Card
Getting a crypto debit card is a straightforward process that requires only a basic understanding of crypto platforms. Here’s a simple, step-by-step guide:
- Research various crypto debit card providers until you find the one that suits you best. Pay attention to the details, such as regional availability, fees, and support for cryptocurrencies.
- Sign up on the platform of your choice using their website or mobile app. You’ll likely need to disclose your email address or a phone number.
- Complete a KYC (Know Your Customer) verification process to confirm your identity. This step usually requires a government-issued ID, such as a passport or a driver’s license.
- Fund your account with cryptocurrency.
- Order the card. Some card issues offer virtual and physical versions. You might also have several card options to choose from. For instance, Crypto.com features five different debit cards, though some require users to lock up their CRO.
- Activate the card once it arrives and set up security features such as your PIN, 2FA, and other safety measures.
Crypto Debit Cards Advantages & Disadvantages
There are several significant pros and cons to consider before ordering your crypto debit card. Let’s start with the advantages:
- Crypto debit cards make spending your crypto assets easy. They operate much like traditional debit cards, which makes them practical for everyday use. The instant conversion feature makes it so you don’t have to manually sell your crypto assets.
- Global acceptance is another reason to get a crypto debit card. These cards are generally accepted anywhere you can use traditional credit and debit cards.
- The financial inclusion that comes with crypto debit cards makes them invaluable to users who don’t have access to traditional banking systems.
However, it’s essential to keep in mind some of the downsides of using crypto debit cards, too, including the following ones:
- The volatility of the crypto market means that your funds can significantly drop in value in a short period of time. The chances increase if you hold less-prominent and more unstable altcoins.
- Fees are often higher with crypto than with traditional debit cards. Some providers offer rewards to offset some of the losses due to these fees.
- Regulatory uncertainty stems from the fast-evolving nature of cryptocurrencies. It’s crucial to familiarize yourself with tax implications before spending your cryptocurrency.
The bottom line is that crypto debit cards aren’t for everyone, but they can be powerful financial tools for certain users. They are great for people who have branched out their portfolios and want to diversify their spending.
Moreover, crypto debit cards are perfect alternatives when traditional cards aren’t an option. Still, it’s important to know that there will always be some sort of regulation, even with these cards, which is why it’s impossible to find no KYC crypto debit cards.
Finally, they are a solid option for frequent travelers who don’t want to deal with numerous fiat currencies.
Key Takeaways
As you can see, the cryptocurrency financial landscape has changed a lot since the introduction of Bitcoin. It’s no longer seen as a fringe fad for crypto enthusiasts; instead, it’s seemingly integrated into our daily lives.
Crypto debit cards are just one of many symbols of the evolution and growing acceptance of the cryptocurrency market. And while there’s still a lot to do to achieve complete global adoption, the path ahead looks promising.
Remember to do your research, as there’s no one-size-fits-all crypto card. Only then will you be able to take full advantage of the perks and flexibility these cards offer.
Crypto Debit Cards FAQ
What is the best crypto debit card?
The best crypto debit card depends on your personal needs and requirements. Notable choices include the Binance Card, Crypto.com Visa Card, and BlockCard Visa Debit Card. By comparing their features and characteristics, such as fees and support for cryptocurrencies, you’ll find the most suitable option.
What are the benefits of a crypto debit card?
The main benefit of a crypto debit card is that it allows you to spend your crypto assets on transactions as if they were conventional money. They bridge the gap between the cryptosphere and traditional commerce, performing crypto-to-fiat conversions in real time.
Are crypto debit cards safe to use?
Safety is a priority when it comes to payment cards, including crypto debit cards. Reputable crypto debit cards offer plenty of useful security features, such as advanced encryption, two-factor authentication, and instant card freezing. Regardless, you should always be cautious when using debit cards and be wary of phishing attempts.
How do I get a crypto debit card?
You can get a crypto debit card by selecting a cryptocurrency platform—which will be your provider—creating an account, and performing a mandatory verification. After that, you’ll be able to order your crypto debit card and activate it upon arrival.
How do crypto debit cards work?
Crypto debit cards work similarly to traditional debit cards. When you initiate a transaction, these cards instantly convert your crypto assets into local fiat currency and transfer the required amount to a merchant.
Where can I use a crypto debit card?
Crypto debit cards can generally be used everywhere where payment cards are accepted. That means you can use them with in-store POS terminals and online, as well as to withdraw cash at ATMs.